Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

UNIVERSE

The population, collection, items, bodies grouped together due to commonalities that a representative sample is then taken for measurement of comparisons.

UNOCCUPIED

Property classification where it is not occupied by people but can have goods and furniture in it.

UNREPORTED INCOME

Taxpayer’s failure to report all income he has received and avoid paying as much tax as needs to be paid.

UPHOLD

High court decision to endorse and approve a defendant’s appeal.

UPSTREAMING

Transfer of income to a tax haven by internal billing processes. See transfer price.

USENET

User’s network. Largest electronic bulletin board in the world.

VACANCY FACTOR

Gross loss of income from an untenanted property available for lease.

VALUE STREAM

Activities that are needed to design, produce, provide a service or product with information of materials and flows of worth.

VAPOR LOCK

Situation where liquid is trapped in pipes and cannot flow as vapor has formed and is blocking the pipe.

VELOX

Graphic image on light sensitive paper that is able to be copied photographically, manipulated and then transferred to a plate for printing. Also called Photomechanical Transfer, PMT, and replacing it is Lion

VESTING PERIOD

Period of time an employees needs to work to fully own company shares in a stock option plan.

VIENNA CONVENTION

Treaty that governs international trade defang rights of importers and exporters. Aloes known as UN Convention on Contracts for the International Sale of Goods.

VISION STATEMENT

Inspirational description of what the organization wants to achieve. See mission statement.

VOICE OF THE PROCESS

Statistical data that is generated by quality control measures and indicating stability of the process.

VOLUNTARY REDUNDANCY

Accepting termination of employment by the employer based on terms offered to the employee.

WAGE COMPRESSION

Inequities in wages arising from new employees who want more money than current employees. See wage expansion.

WAR CLAUSE

Releases the insurer from loss liabilities due to an act of war.

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